Maintenance of economic stability and confidence amongst the transacting public, the local business community and foreign investors.

RBZ grants 26 firms bureaux de change licences

THE Reserve Bank of Zimbabwe (RBZ) has issued licences to 26 institutions to operate as Bureaux de Change. In a notice, the RBZ said this is line with foreign exchange guidelines in the 2019 Monetary Policy Statement announced earlier this year.

Sep 2018

Harare angles for remninbi centre

Zimbabwe is lobbying to be included among African offshore clearing centres for the Chinese currency, the renminbi (RMB), as it seeks to grow trade between the two countries and boost confidence in the local banking sector, a top diplomat has said. The RMB was added to the IMF’s basket of currencies two years ago, meaning it is now a reserve currency that can be used as a unit of exchange in international trade and international cross-border transactional settlements. Presently, the UK is the world’s largest clearing centre for the RMB outside Greater China, followed by Singapore.